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18 October, 06:55

On june 1, 2014, england inc. reported a cash balance of $21,000. during june, england made deposits of $8,000 and made disbursements totaling $24,000. what is the cash balance at the end of june?

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  1. 18 October, 07:31
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    The deposit made by the June will be added to the original cash balance. That is, $21,000 + $8,000 which is equal to $29,000. Then, the disbursement will be subtracted from the value calculated above.

    final cash balance = $29,000 - $24,000

    = $5,000

    Therefore, the final cash balance of England Inc. is $5,000.
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